State of Alaska Department of Revenue Has $3.28 Million Holdings in State Street Co. (NYSE:STT)

State of Alaska Department of Revenue decreased its holdings in shares of State Street Co. (NYSE:STT) by 19.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,426 shares of the asset manager’s stock after selling 7,845 shares during the quarter. State of Alaska Department of Revenue’s holdings in State Street were worth $3,280,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Albion Financial Group UT acquired a new stake in shares of State Street during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd raised its holdings in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the period. Coastline Trust Co acquired a new position in shares of State Street during the 3rd quarter worth about $44,000. Friedenthal Financial bought a new stake in shares of State Street in the fourth quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP bought a new position in shares of State Street during the 3rd quarter worth about $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

STT opened at $99.44 on Monday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The firm’s fifty day moving average price is $98.53 and its two-hundred day moving average price is $91.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $29.15 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.04 earnings per share. As a group, analysts anticipate that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. State Street’s payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on STT shares. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research report on Friday, December 20th. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wells Fargo & Company upped their target price on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley cut their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.73.

Insider Buying and Selling at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.